The Charlotte Hornets are getting cash from the Cleveland Cavaliers, in returning for acquiring, and then waiving, injured big man Chris Anderson.
This deal lowers the Cavaliers’ luxury-tax bill and opens a Cleveland roster spot. It has no tangible impact on the Hornets’ roster.
Anderson, 38, is out for the season with a knee injury. He makes about $1.5 million this season. The Hornets took his salary on their cap to decrease the Cavaliers’ luxury-tax bill. The Cavaliers have an NBA-high payroll this season of about $129 million.
To comply with NBA trade rules, the Hornets would send a highly-protected 2017 second-round pick to the Cavaliers. But the Hornets (24-30) would have to finish with one of the NBA’s top five records to lose that pick. There are currently 15 NBA teams with better records than the Hornets.
Cavaliers superstar LeBron James has been lobbying for his team to add another playmaker, as they try to win a second consecutive championship. This trade opens a roster spot.
The Hornets waived Anderson Monday afternoon, then signed center Mike Tobey to a second 10-day contract.